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SPUS$52.14+0.83%HLAL$38.72+0.61%SPSK$24.81+0.12%IGDA$4.82+0.44%SPRE$16.34-0.21%SPTE$28.91+1.42%SPWO$21.44+0.38%UMMA$19.87+0.29%MNZL$26.14+0.71%ISDW£3.89+0.38%SPUS$52.14+0.83%HLAL$38.72+0.61%SPSK$24.81+0.12%IGDA$4.82+0.44%SPRE$16.34-0.21%SPTE$28.91+1.42%SPWO$21.44+0.38%UMMA$19.87+0.29%MNZL$26.14+0.71%ISDW£3.89+0.38%

Q1 2026 ETF Scorecard

Last updated: 18 Apr 2026 · Covers 10 Shariah ETFs across 5 dimensions

The NR Scorecard evaluates each Shariah ETF across five dimensions: Screening Rigour (quality and consistency of the Shariah methodology), Factor Transparency (disclosure of screen-induced factor tilts), Purification Disclosure (clarity and timeliness of purification ratio reporting), Fee Structure (TER competitiveness within the universe), and Portfolio Coverage (breadth of the investable universe). The overall score is a weighted average. Full sub-scores are available to subscribers.

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FundOverallSub-scoresRecommendation
SP
SPUS
SP Funds S&P 500 Sharia
82/100
Core Hold
SP
SPSK
SP Funds Global Sukuk
79/100
Core Hold
HL
HLAL
Wahed FTSE USA Shariah
75/100
Core Hold
SP
SPWO
SP Funds S&P World
73/100
Core Hold
IG
IGDA
iShares MSCI World Islamic
71/100
Watch
IS
ISDW
iShares World Islamic GBP
71/100
Watch
SP
SPWI
Wahed S&P 500 Shariah UCITS
70/100
Watch
SP
SPTE
SP Funds Global Tech
68/100
Watch
DJ
DJIW
Wahed DJ Islamic World UCITS
65/100
Watch
SP
SPRE
SP Funds Global REIT
64/100
Watch
UM
UMMA
Wahed DJ Islamic World
58/100
Watch
MN
MNZL
Manzil Halal USA
44/100
Avoid
AM
AMAL
Saturna Al-Kawthar Intl Equity
0/100
Watch
BP
BPIHIPA
BNP Paribas Hilal Income
0/100
Watch
FR
FRFGSWG
Franklin Intl Sukuk GBP
0/100
Watch
FT
FTGSIAU
Franklin Intl Sukuk USD
0/100
Watch
HB
HBKS
HSBC Intl Sukuk GBP
0/100
Watch
HB
HBKU
HSBC Intl Sukuk USD
0/100
Watch
HI
HIEM
HSBC MSCI EM Islamic USD
0/100
Watch
HI
HIES
HSBC MSCI EM Islamic GBP
0/100
Watch
HI
HIEU
HSBC MSCI Europe Islamic USD
0/100
Watch
HI
HIJP
HSBC MSCI Japan Islamic USD
0/100
Watch
HI
HIJS
HSBC MSCI Japan Islamic GBP
0/100
Watch
HI
HIND
HSBC FTSE EPRA Nareit Islamic USD
0/100
Watch
HI
HINS
HSBC FTSE EPRA Nareit Islamic GBP
0/100
Watch
HI
HIPS
HSBC MSCI Europe Islamic GBP
0/100
Watch
HI
HIUA
HSBC MSCI USA Islamic USD
0/100
Watch
HI
HIUS
HSBC MSCI USA Islamic GBP
0/100
Watch
HI
HIWO
HSBC MSCI World Islamic USD
0/100
Watch
HI
HIWS
HSBC MSCI World Islamic GBP
0/100
Watch
HS
HSBAGIC
HSBC Islamic Intl Equity USD
0/100
Watch
HS
HSGEIBG
HSBC Islamic Intl Equity GBP
0/100
Watch
HS
HSGSBCG
HSBC Shariah Multi Asset
0/100
Watch
IB
IB1T
iShares Bitcoin ETP
0/100
Watch
IS
ISDE
iShares MSCI EM Islamic USD
0/100
Watch
IS
ISUS
iShares MSCI USA Islamic GBP
0/100
Watch
IS
ISWD
iShares MSCI World Islamic GBP
0/100
Watch
MW
MWIM
Invesco MSCI ACWI Islamic
0/100
Watch
OC
OCGIGFA
Oasis Crescent Intl Income
0/100
Watch
PH
PHPP
WisdomTree Physical Precious Metals
0/100
Watch
PH
PHPT
WisdomTree Physical Platinum
0/100
Watch
PP
PPDX
WisdomTree Physical Palladium
0/100
Watch
RM
RMAP
Royal Mint Gold GBP
0/100
Watch
RM
RMAU
Royal Mint Gold USD
0/100
Watch
SC
SCIGEQG
Schroder Islamic Intl Equity
0/100
Watch
SG
SGLN
iShares Physical Gold
0/100
Watch
SK
SKUK
iShares $ Sukuk
0/100
Watch
SL
SLVP
Invesco Physical Silver GBP
0/100
Watch
SS
SSLV
Invesco Physical Silver USD
0/100
Watch

Scores are Nasiha Research editorial judgements. Not financial advice. Scores updated quarterly.